Assessor's Office

Understanding MN Property Tax

About the Appraisers

Property Appraisers are licensed by the State of Minnesota and are required to have work experience and education through various assessing organizations.  

These include:
1. International Association of Assessing Officers (IAAO)
2. Minnesota Association of Assessing Officers (MAAO)
3. State Licensing Requirements

Responsibilities of the Assessor

The Assessor’s Office is responsible for valuing and classifying all real property in the county each year, as of January 2nd.

Valuation at "Market Value"

In Minnesota, the law specifically requires that assessors' value according to "market value" as defined by Minnesota Statute 273.11.

"Market Value" is defined as the usual selling price at the place where the property to which the term is applied shall be at the time of assessment; being the price which could be obtained at a private sale or an auction sale, if is determined by the assessor that the price from the auction sale represents an arm's-length transaction. The price obtained at a forced sale shall not be considered.

In other words....

Market value equals the price that would prevail under competitive, open-market conditions.

How does the Assessor determine market value?

There are a varying number of factors that are used when determining a property's market value much of which depends on what similar properties are selling for on the open market.

Classification by "Current Use"

The statutory classification 273.13 that has been assigned to your property based upon your use of the property. A change in classification of your property can have a significant impact on the real estate tax payable.

For instance, property may be residential homestead (owner-occupied), residential non-homestead, agricultural, or commercial. Each classification has a separate classification rate. Though they could potentially have the same value, they would not pay the same taxes.

Property Taxes

Counties and other local governments use this valuation and classification information to calculate property taxes for the year.

For more information on the following visit:

1. Department of Revenue
2. MN Property Tax Manual
3. 2023 MN Statutes "Property Taxes" Chapter 277-289